Nisa Investment Advisors LLC Lowers Position in IAC Inc. (NASDAQ:IAC)

Nisa Investment Advisors LLC lowered its position in IAC Inc. (NASDAQ:IAC) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,110 shares of the company’s stock after selling 365 shares during the period. Nisa Investment Advisors LLC’s holdings in IAC were worth $652,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. increased its holdings in IAC by 5.9% in the 2nd quarter. American Century Companies Inc. now owns 17,627 shares of the company’s stock worth $826,000 after buying an additional 988 shares during the period. Dimensional Fund Advisors LP acquired a new position in IAC in the second quarter valued at approximately $2,596,000. Thrivent Financial for Lutherans purchased a new stake in IAC in the 2nd quarter worth approximately $2,717,000. Bank of Montreal Can acquired a new stake in shares of IAC during the 2nd quarter worth approximately $506,000. Finally, Marshall Wace LLP purchased a new stake in IAC during the second quarter worth $5,644,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on IAC. Citigroup lowered their price target on IAC from $60.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and issued a $70.00 price target on shares of IAC in a report on Monday, December 16th. Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and cut their target price for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. Truist Financial dropped their price objective on IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, TD Cowen lowered their price target on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.50.

IAC Price Performance

IAC stock opened at $42.66 on Wednesday. The business has a 50 day simple moving average of $44.43 and a 200-day simple moving average of $48.92. IAC Inc. has a twelve month low of $39.61 and a twelve month high of $58.29. The company has a market capitalization of $3.43 billion, a P/E ratio of -99.21 and a beta of 1.32. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last announced its earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The business had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. IAC’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.30) earnings per share. As a group, equities analysts anticipate that IAC Inc. will post -3.97 EPS for the current year.

IAC Company Profile

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.